NHBRC Late Enrolment Guarantee
Late enrolment occurs when a registered home builder has not complied with the rules of the NHBRC to enrol the house fifteen days before the start of construction. Late enrolment of a house imposes considerable risk for the NHBRC in that an inspection of such a unit may not identify underlying structural defects.
Consequence of late enrolment
NHBRC can also due to the risk factor request a five (5) year
financial guarantee (to be held by the NHBRC) for an amount up
to 10% of the value of such property before issuing an
enrolment certificate.
Within the last 2 years the NHBRC have approved certain
insurance companies to issue financial guarantees.
All registered home builders must enrol every new home on
behalf of the housing consumer with the NHBRC within 15
days before construction, irrespective of the purchase
price. If this is not done, the late enrolment guarantee
is required as the NHBRC provides a warranty on the house
to the housing consumer and they would be unable to
ascertain whether the correct guidelines have been
followed.
If the home builder fails to provide the financial bank guarantee as per the regulation, the NHBRC will:
- Free Letter of Intents when requesting via our website, hassle free
- Immediate Guarantee Exposure Reports generated via our tailored made software as and when required
- Dedicated account manager assigned to you once you become a client
Approximately 4- 5 working days
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